CRITICAL ANALYSIS REPORT

Project Management in various domains is considered to be a relatively mature discipline. There is extensive body of knowledge that promotes project management and supports its main object of delivering successful projects. This knowledge base is supplemented by a well-established standards that have been evolving over years such as PMBOK and Prince2 to equip project managers with the knowledge, tools and skills to perform their role.

Having said that, project delivery in various domains is still unsatisfactory. Many recent studies and audits have revealed that project management fails to deliver successful project outcomes with alarming frequency. In the case of construction, for example, recent figures show that around 50% of projects fail to meet the delivery targets. Those problems are not exclusive to the construction sector. The IT sector projects also encounter an estimated 70% failure rate. This should be alarming to project management professionals and practitioners whose main duties are to ensure successful delivery of projects.